MGO One Seven LLC Boosts Stake in Eaton Co. plc (NYSE:ETN)

MGO One Seven LLC lifted its holdings in Eaton Co. plc (NYSE:ETN) by 3.4% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 13,348 shares of the industrial products company’s stock after buying an additional 442 shares during the period. MGO One Seven LLC’s holdings in Eaton were worth $4,430,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of ETN. Wetzel Investment Advisors Inc. grew its stake in Eaton by 0.9% in the 4th quarter. Wetzel Investment Advisors Inc. now owns 3,101 shares of the industrial products company’s stock valued at $1,029,000 after purchasing an additional 28 shares during the period. Westmount Partners LLC grew its position in Eaton by 3.1% during the fourth quarter. Westmount Partners LLC now owns 985 shares of the industrial products company’s stock valued at $327,000 after buying an additional 30 shares during the period. Signal Advisors Wealth LLC increased its holdings in Eaton by 3.5% during the fourth quarter. Signal Advisors Wealth LLC now owns 896 shares of the industrial products company’s stock worth $297,000 after buying an additional 30 shares during the last quarter. Lantz Financial LLC raised its position in Eaton by 4.8% in the fourth quarter. Lantz Financial LLC now owns 659 shares of the industrial products company’s stock worth $219,000 after acquiring an additional 30 shares during the period. Finally, FARMERS & MERCHANTS TRUST Co OF LONG BEACH boosted its stake in Eaton by 2.0% in the fourth quarter. FARMERS & MERCHANTS TRUST Co OF LONG BEACH now owns 1,639 shares of the industrial products company’s stock valued at $544,000 after acquiring an additional 32 shares during the last quarter. 82.97% of the stock is owned by institutional investors.

Eaton Trading Up 3.3 %

Eaton stock opened at $275.72 on Thursday. The stock has a market cap of $108.02 billion, a P/E ratio of 29.02, a PEG ratio of 2.64 and a beta of 1.09. Eaton Co. plc has a fifty-two week low of $231.85 and a fifty-two week high of $379.99. The firm’s fifty day moving average price is $282.46 and its 200-day moving average price is $323.96. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.96 and a current ratio of 1.50.

Eaton (NYSE:ETN) last released its quarterly earnings results on Friday, January 31st. The industrial products company reported $2.83 earnings per share for the quarter, beating the consensus estimate of $2.82 by $0.01. Eaton had a return on equity of 22.62% and a net margin of 15.25%. During the same period in the previous year, the company posted $2.55 EPS. Equities research analysts forecast that Eaton Co. plc will post 12.02 earnings per share for the current fiscal year.

Eaton Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 23rd. Stockholders of record on Monday, May 5th will be issued a $1.04 dividend. This represents a $4.16 dividend on an annualized basis and a dividend yield of 1.51%. The ex-dividend date is Monday, May 5th. Eaton’s payout ratio is 43.79%.

Analyst Ratings Changes

A number of research firms recently commented on ETN. KeyCorp lowered their price target on shares of Eaton from $340.00 to $325.00 and set an “overweight” rating on the stock in a report on Tuesday, April 8th. Melius lowered Eaton from a “buy” rating to a “hold” rating and set a $373.00 target price on the stock. in a research note on Tuesday, January 28th. Melius Research reiterated a “hold” rating and set a $373.00 price target on shares of Eaton in a research note on Tuesday, January 28th. Citigroup lowered their price objective on Eaton from $396.00 to $323.00 and set a “buy” rating on the stock in a research note on Monday, April 14th. Finally, StockNews.com downgraded shares of Eaton from a “buy” rating to a “hold” rating in a report on Tuesday. Eight equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Eaton presently has an average rating of “Moderate Buy” and an average target price of $350.22.

About Eaton

Eaton Corporation plc operates as a power management company worldwide. The company’s Electrical Americas and Electrical Global segment provides electrical components, industrial components, power distribution and assemblies, residential products, single and three phase power quality and connectivity products, wiring devices, circuit protection products, utility power distribution products, power reliability equipment, and services, as well as hazardous duty electrical equipment, emergency lighting, fire detection, explosion-proof instrumentation, and structural support systems.